The battle over Channel 4’s funding formula, which was stepped up yesterday following ITV’s statement supporting the formula, has continued today with C4 taking full page ads in the national press.
“This year,” reads the ad, “C4 will have to subsidise ITV by £75 million. It means nearly a quarter of our annual programming budget goes straight into ITV shareholders’ pockets, not into new programmes. And all because of the Funding Formula. Originally set up by Parliament in the 1990 Broadcasting Act to protect Channel 4, it actually prevents us from creating 12 new films, 600 hours of new programmes and 1500 new jobs”.
ITV’s main arguments made public yesterday were that the C4 funding formula is part of a complex set of funding arrangements; ITV companies pay for their licences, C4 does not; the abolition of the formula would increase pressure for the abolition of cross channel promotion agreements between the two channels.
C4: 0171 396 4444
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